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7 Oct 2008 at 12:28am
AP - The government's $700 billion rescue, aimed at rebuilding economic confidence, appeared to sound a global alarm instead on Monday, triggering a fearful international sell-off as the U.S. began work on a plan that investors feared would be too little and too late to stave off a worldwide recession.
AP - The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives as it pleaded for a federal lifeline, lawmakers learned Monday, as Congress began investigating what went so wrong on Wall Street to prompt a $700 billion government bailout.
AP - The two men who supposedly exemplified a different kind of politics are engaged in an increasingly bitter campaign as character attacks are emerging to compete with issues like the troubled economy.
AP - Federal prosecutors moved Monday to delay indefinitely the sentencing of convicted fundraiser Antoin "Tony" Rezko, sending their strongest hint yet that he is ready to spill his political secrets.
AP - As a state senator, Democrat Barack Obama awarded $75,000 in government grants to a Chicago social service organization led by a rabbi who is also his wife's cousin, records show.
AP - An unemployed man with an advanced finance degree who was despondent over his own financial problems shot and killed his wife, three children, mother-in-law and then himself in an upscale home in a gated community, police said Monday.
Fan use linked to lower risk of sudden baby death (AP)
AP - Using a fan to circulate air seemed to lower the risk of sudden infant death syndrome in a study of nearly 500 babies, researchers reported Monday. Placing babies on their backs to sleep is the best advice for preventing SIDS, a still mysterious cause of death.
R. Kelly seeks $3.4 million from tour promoter (AP)
AP - R. Kelly has won a $3.4 million award against his former tour promoter and is asking a Los Angeles judge to help him collect.
AP - The Boston Red Sox brushed aside the 100-win Angels in four games, dismissing their best-in-baseball regular season as last month's news.
AP - The New Orleans Saints committed so many blunders, not even Reggie Bush's record-tying two punt returns for touchdowns could make up for them in a 30-27 loss to the Minnesota Vikings on Monday night.
Reuters - Guarded optimism mounted on Tuesday for a unified international response to the credit crisis ricocheting around the world after Australia cut interest rates far more steeply than expected.
Reuters - Panic about how the U.S. and European governments have not yet found a solution to the plague sweeping through the global financial system hit Asian stocks again on Tuesday and lifted gold prices.
Reuters - Republican John McCain and Democrat Barack Obama warmed up on Monday for a potentially crucial debate by unleashing another volley of personal attacks on each other's character in an increasingly ugly White House race.
Reuters - Bank of America Corp, citing "recessionary conditions," on Monday halved its dividend and said it would sell at least $10 billion in new common stock to bolster its capital to offset rising loan losses.
Reuters - Wells Fargo & Co and Citigroup Inc agreed on Monday to a 44-hour truce in their fight over regional bank Wachovia Corp after a weekend of legal wrangling.